Ashok Leyland: Rough road ahead

Ashok Leyland

Observation

- Multiple resistance between 54-57 & then around 63 levels

- before September, it could be extremely difficult to cross the red zone

- below 47.65 target 45.50

- if Ashok Leyland starts trading below the green line, then it may be indication of further weakness & we may witness a quick fall towards 38-36 levels.


One may consider selling Ashok Leyland on rise especially around 55 odd levels or once it breaks 47.65

Alternatively one may consider selling Ashok Leyland 28-May-2020 Call option

Strike Price: 60

Price between 1.3 - 1.6

Lot size 8000

Target : 0.3 / 0

Time frame till 28 May 2020


Take care & safe trading...!!!